North Ground Capital Takes $433,000 Position in Ares Commercial Real Estate Corporation $ACRE

Key Points

• North Ground Capital has acquired 93,469 shares of Ares Commercial Real Estate Corporation valued at around $433,000, increasing its stake to 0.17% by the end of the most recent quarter.
• Several hedge funds have also made recent acquisitions in Ares Commercial Real Estate, contributing to institutional investors holding 41.34% of the company's stock.
• Ares Commercial Real Estate announced a quarterly dividend of $0.15 per share, translating to an annual yield of 13.2%, despite having a negative payout ratio.

North Ground Capital purchased a new position in shares of Ares Commercial Real Estate Corporation (NYSE:ACRE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 93,469 shares of the real estate investment trust's stock, valued at approximately $433,000. North Ground Capital owned approximately 0.17% of Ares Commercial Real Estate as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACRE. Wells Fargo & Company MN grew its position in Ares Commercial Real Estate by 3.9% in the fourth quarter. Wells Fargo & Company MN now owns 50,424 shares of the real estate investment trust's stock valued at $297,000 after purchasing an additional 1,905 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ares Commercial Real Estate during the 4th quarter worth about $430,000. Barclays PLC boosted its stake in shares of Ares Commercial Real Estate by 15.1% during the 4th quarter. Barclays PLC now owns 80,377 shares of the real estate investment trust's stock worth $473,000 after buying an additional 10,556 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Ares Commercial Real Estate in the 4th quarter valued at about $123,000. Finally, MetLife Investment Management LLC increased its position in shares of Ares Commercial Real Estate by 13.0% in the fourth quarter. MetLife Investment Management LLC now owns 27,859 shares of the real estate investment trust's stock valued at $164,000 after acquiring an additional 3,215 shares during the last quarter. 41.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group decreased their price target on Ares Commercial Real Estate from $5.00 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods decreased their target price on shares of Ares Commercial Real Estate from $4.80 to $4.25 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Zacks Research raised shares of Ares Commercial Real Estate to a "hold" rating in a research report on Monday, August 11th. Finally, Wall Street Zen cut shares of Ares Commercial Real Estate from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ares Commercial Real Estate currently has an average rating of "Reduce" and an average target price of $5.31.

Ares Commercial Real Estate Stock Up 1.0%

Shares of NYSE ACRE traded up $0.05 during mid-day trading on Thursday, reaching $4.68. 399,696 shares of the company were exchanged, compared to its average volume of 490,315. The stock has a market capitalization of $257.17 million, a P/E ratio of -13.75 and a beta of 1.33. The company's 50-day simple moving average is $4.62 and its 200-day simple moving average is $4.58. Ares Commercial Real Estate Corporation has a twelve month low of $3.35 and a twelve month high of $7.83.

Ares Commercial Real Estate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.8%. Ares Commercial Real Estate's dividend payout ratio (DPR) is -176.47%.

Ares Commercial Real Estate Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.